Last year, the Liquidating Trustee (the “Trustee”) in the Midway Games bankruptcy began filing avoidance actions against creditors of the bankruptcy estate. Midway Games (“Midway” or the “Debtor”) filed petitions for bankruptcy in the United States Bankruptcy Court for the District of Delaware on February 12, 2009. For those not familiar with this bankruptcy proceeding, Midway developed and distributed video games throughout the North America, Europe and Asia. See Debtor’s Declaration in Support of First Day Motions (“Declaration”) at *4.
On May 21, 2010, the Bankruptcy Court entered an Order confirming Midway’s joint chapter 11 plan of liquidation (the “Plan of Liquidation”). Under the Plan of Liquidation, Buchwald Capital Advisors LLC was appointed the Trustee. The Trustee’s responsibilities include collecting and distributing assets of Midway. More specifically, the Trustee is responsible for commencing causes of actions on behalf of the bankruptcy estate.
The Midway Games bankruptcy, as well as the avoidance actions filed by the Trustee, are pending before the Honorable Kevin Gross. The Trustee is represented by Nieger LLP and Stevens & Lee, P.C.
Jason Cornell practices with the law firm Fox Rothschild LLP in Wilmington, Delaware. You can reach Jason at 302 427 5512, or jcornell@foxrothschild.com.
Similar Posts:
- Chapter 7 Trustee in HRP Myrtle Beach Holdings Files Preference Actions
- Chapter 7 Trustee in Indalex Bankruptcy Files Preference Actions
- Trustee in Sunset Aviation Commences Preference Actions
- Chapter 7 Trustee Files Preference Complaints in National Wholesale Liquidators Bankruptcy
- Bankruptcy Trustee in Eclipse Aviation Files Preference Actions
Tags: Actions, Liquidating Trustee, Midway Games
Posted February 15, 2011 by Brayden Laura under Credit Report